Cabaletta Bio (NASDAQ:CABA) Price Target Raised to $30.00

Cabaletta Bio (NASDAQ:CABA) had its target price upped by Cantor Fitzgerald from $15.00 to $30.00 in a report published on Friday morning, Marketbeat.com reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently weighed in on CABA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Cabaletta Bio in a research report on Friday, October 10th. They set a “buy” rating and a $14.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Cabaletta Bio in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.11.

Cabaletta Bio Trading Up 46.2%

CABA opened at $3.61 on Friday. Cabaletta Bio has a 1-year low of $0.99 and a 1-year high of $5.46. The company has a market cap of $330.17 million, a P/E ratio of -1.33 and a beta of 3.10. The company has a fifty day moving average price of $2.23 and a two-hundred day moving average price of $1.84.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.02). On average, research analysts forecast that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in Cabaletta Bio by 36.5% in the 1st quarter. Acadian Asset Management LLC now owns 682,670 shares of the company’s stock worth $942,000 after purchasing an additional 182,406 shares in the last quarter. Federated Hermes Inc. grew its position in Cabaletta Bio by 133.1% in the 1st quarter. Federated Hermes Inc. now owns 343,411 shares of the company’s stock worth $476,000 after purchasing an additional 196,064 shares in the last quarter. Nuveen LLC bought a new stake in Cabaletta Bio in the 1st quarter worth about $602,000. Almitas Capital LLC bought a new stake in Cabaletta Bio in the 1st quarter worth about $509,000. Finally, Charles Schwab Investment Management Inc. grew its position in Cabaletta Bio by 46.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 159,866 shares of the company’s stock worth $221,000 after purchasing an additional 50,606 shares in the last quarter.

Cabaletta Bio Company Profile

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.